If I am buying a house & I request seller pays closing cost can I still write-off them on my taxes?

Answer 1

In a purchase transaction the only closing costs that can be tax deductible are the loan origination fee, points, and pre-paid interest.

In a refinance the loan origination fee is deductible prorated over the term of the loan.

Any CPA's here?? I believe even if the seller pays the origination fee & pre-paid interest the buyer can still deduct them (???)

ADDITIONAL INFO:
How About Seller Paid Points?
Other complications kick in when you are the seller and pay points to induce the lender to arrange financing for the buyer. You cannot count the points as interest. But as a selling expense, they reduce the amount of any gain you realize from the sale and are deductible by the buyer, who then must do some paperwork. He or she has to subtract the amount paid from the purchase price in computing the home’s basis — the figure used to determine gain or loss on the sale of an asset.
Julian Block is an attorney, syndicated columnist and former IRS special agent (criminal investigator). This article was excerpted with permission from the pamphlet: "The Home Seller's Guide to Tax Savings: Simple Ways For Any Seller to Lower Taxes To The Legal Minimum," which can be ordered by sending $19.95 for a postpaid copy to J. Block, 3 Washington Sq., #1-G, Larchmont, NY 1053

http://homebuying.about.com/od/marketfactstrends/qt/TaxDedPoints.htm

Answer 2

No. The seller gets to do that if they pay the closing.

Answer 3

no. Why don't you ask the seller to lower the price instead.

Answer 4

no, because you didn't pay the closing costs.